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|Product Type: Currencies||Market: Global|
|Trading Hours: 24 hours, Mon-Fri.|
The US dollar and the Australian dollar are among the world’s major currencies – the former holds the number one spot, the later reigns in the sixth. AUD/USD represents the amount of US dollars needed to buy one Australian dollar. Despite being a relatively small country (51st largest in terms of population), Australia has a total nominal GDP of $1.483 trillion, making it the 12th largest economy in the world. The country enjoys extensive international trading activities, which are primarily attributed to its being both the 19th-largest importer and exporter in the world and to its government’s non-interference policy and high-interest rates. The Aussie dollar (also referred to as ‘buck’ or ‘dough’) is considered a “commodity currency” due to its close ties to the country’s abundantly-available raw materials sector, which includes, among others, agriculture, forestry, fishery and mining.